Hamilton Insurance Group (NYSE:HG) Raised to “Buy” at Wall Street Zen

Hamilton Insurance Group (NYSE:HGGet Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other brokerages have also weighed in on HG. Morgan Stanley lifted their target price on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Citigroup assumed coverage on shares of Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $25.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Hamilton Insurance Group from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Hamilton Insurance Group to a “hold” rating in a research report on Tuesday, August 12th. Finally, JMP Securities lifted their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.71.

Check Out Our Latest Stock Report on Hamilton Insurance Group

Hamilton Insurance Group Stock Performance

NYSE HG opened at $23.84 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 6.59 and a beta of 0.82. The company’s fifty day moving average is $23.84 and its two-hundred day moving average is $21.60. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $25.37.

Hamilton Insurance Group (NYSE:HGGet Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. Equities research analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Alexander James Baker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the transaction, the insider directly owned 116,338 shares of the company’s stock, valued at approximately $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Keith Donald Bernhard sold 47,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $24.37, for a total transaction of $1,145,390.00. Following the completion of the transaction, the insider directly owned 53,893 shares of the company’s stock, valued at approximately $1,313,372.41. This represents a 46.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,988 shares of company stock valued at $1,743,842 in the last ninety days. Insiders own 17.46% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Hamilton Insurance Group by 26.1% in the first quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company’s stock worth $96,570,000 after acquiring an additional 963,021 shares during the last quarter. Nuveen LLC bought a new position in shares of Hamilton Insurance Group in the first quarter worth about $50,838,000. American Century Companies Inc. raised its stake in shares of Hamilton Insurance Group by 15.7% in the second quarter. American Century Companies Inc. now owns 2,214,591 shares of the company’s stock worth $47,879,000 after acquiring an additional 301,334 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Hamilton Insurance Group by 21.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,357,876 shares of the company’s stock worth $29,357,000 after acquiring an additional 235,935 shares during the last quarter. Finally, Private Management Group Inc. raised its stake in shares of Hamilton Insurance Group by 0.6% in the second quarter. Private Management Group Inc. now owns 891,164 shares of the company’s stock worth $19,267,000 after acquiring an additional 5,168 shares during the last quarter. 29.17% of the stock is owned by institutional investors.

Hamilton Insurance Group Company Profile

(Get Free Report)

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.

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Analyst Recommendations for Hamilton Insurance Group (NYSE:HG)

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